Consolidation With Independence Blue Cross
On March 28, 2007, Highmark announced that it intended to consolidate with Independence Blue Cross of Philadelphia. The combination of these insurers would have created a new company with over 18,000 employees, with dual-headquarters in both Pittsburgh and Philadelphia. The new company would have had an economic impact of over $4 billion throughout the Commonwealth of Pennsylvania. On January 22, 2009, Highmark and Independence Blue Cross withdrew their applications to consolidate. This was due to the unacceptability of conditions that the Pennsylvania Insurance Department was going to place upon the merger .
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